On October 31, 2002 the Federal Securities Commission of Russia sent notification to OJSC Sibirtelecom (the Company) concerning the state registration of a securities issue, to be placed by swapping the securities of telecom companies in the Siberian region, which are to be merged with the Company.  The registration was carried out in accordance with FSC resolution No. 1331/r dated October 25, 2002.

On October 25, 2002 the Federal Securities Commission of Russia registered 10 issues of common nominal no-document shares and nine issues of type A preferred nominal non-document shares of OJSC Sibirtelecom, which are to be placed by swapping them with the shares of the joint stock companies slated for a merger with the Company.

Number of securities in the nine common shares issues: 9,334,815,322

Total value of the 10 common shares issues (at par value): rub 1,400,222,298.3

Number of securities in the 10 preferred shares issues: 3,016,234,561

Total value of the nine preferred shares issues (at part value): rub 452,435,184.15

Nominal value of each security in the issues - rub 0.15

Total value of 19 issues (at par value) rub 1,852,657,482.45